Dow Jones Hits 25,000 for the First Time

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A board displays the closing numbers after the closing bell of the Dow Industrial Average at the New York Stock Exchange on January 2, 2018 in New York. Wall Street opened 2018 on a winning note Tuesday, bidding Nasdaq to its first-ever close above 7,000 points following a rally in technology shares. At the closing bell, the tech-rich Nasdaq Composite Index had jumped 1.5 percent to end the first session of the year at 7,006.90. The S&P 500 also notched a fresh record, gaining 0.8 percent to close at 2,695.79, while the Dow Jones Industrial Average rose 0.4 percent to 24,824.01, about 13 points below its all-time record. / AFP PHOTO / Bryan R. Smith (Photo credit should read BRYAN R. SMITH/AFP/Getty Images)

Up, up, up she goes! Where she stops, nobody knows!

Yesterday’s juicy revelations about inner-White House gossip and intrigue contained in Michael Wolff’s new book “Fire and Fury: Inside the Trump White House” rocked the political world. There was massive fallout, as President Trump severed personal ties with his former chief strategist Steve Bannon. Even this morning, we’re learning that another former White House staffer is on the chopping block, and could be fired from a pro-Trump outside group.

The political press, ever hungry for a salacious new scoop, ate up yesterday’s news like a hot fudge sundae. There was talk among reporters and journalists that the Trump Administration is in shambles, and that former allies are now turning on one another in a bloody war of words that will leave no victors.

Well, it looks like Wall Street didn’t get the memo of a Washington meltdown. While blathering pundits squawked about Trump’s incompetence, the Dow Jones industrial average just hit a monumental new record: 25,000!

CNBC reports:

The 30-stock index climbed 103 points, with American Express and J.P. Morgan Chase rising more than 1 percent.

“The Dow hitting 25,000 was a pretty wild idea even a year ago. And while its symbolically important, the real story is never just a number. It’s the underlying strength that is pushing markets this high,” said Steve Claussen, vice president of trader strategy at ETRADE.

No doubt this record is due mostly to the passage of a historic tax cut bill last month, which President Trump signed just before Christmas.

With the news that the corporate tax rate is going to be slashed, many American companies issued $1,000 bonuses to their employees, which should spur even more consumption in the economy.

This new stock market record tells us one thing: While the celebrity-worshippers, gossip queens, and scoop-chasers in Washington bicker over whether or not someone said something mean about Trump, the President is still delivering for the American people.

The economy is as good as it has ever been. For hard-working Americans, this is what matters most. Not whatever insult Steve Bannon lobbed at the Trump children.

Share this breaking news with your friends and family now! Good times are here again!

Jim E. is a true political insider, with experience working both in Washington and outside in real America. Jim... More about Jim E

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